Overview
- WPP now forecasts full-year like-for-like revenue less pass-through costs down 5.5% to 6% and sees headline operating margin around 13%, below its previous range.
- Third-quarter like-for-like revenue fell 5.9% (11.1% on a reported basis), with the UK down 8.9% and WPP Media highlighted as a weak spot after client losses.
- Cindy Rose called recent results unacceptable and opened a group-wide review focused on simplification, cost efficiency, and a greater push into AI and data capabilities.
- The profit warning sent the shares down more than 11% in London trading, extending a slide that has more than halved the stock this year.
- The company has already cut about 4,000 jobs in 2025, and the review has raised the prospect of further workforce changes, with more detail due early next year.